2016-06-16 00:00:00Starting a BusinessEnglishMentoring a New Entrepreneur https://quickbooks.intuit.com/in/resources/in_qrc/uploads/2017/05/Starting-Up-How-Mentoring-a-new-Entrepreneur-can-help-you.pnghttps://quickbooks.intuit.com/in/resources/starting-your-business/mentoring-new-entrepreneur/How Mentoring a New Entrepreneur Can Help You

How Mentoring a New Entrepreneur Can Help You

2 min read

Mentoring through mentors has taken the role of encouraging the personal and professional development of a mentee through the constant sharing of experience, expertise, and knowledge. It’s through this understanding that a mutual relationship is built based on the mode of communication and the trust that is borne out of constant engagement.

Both parties interact by regularly exchanging ideas, work goals and the progress since the last discussion. Mentees can gain from being exposed to new ideas and encouraging a new approach to thinking.

They can gain knowledge in how to further develop their strengths, overcome their weaknesses and receive guidance to further develop their visibility, skills, and knowledge. Mentoring is the most cost-effective method used to develop talent and keep your mentees energized and engaged. It is essential for businesses as there is a knowledge transfer of skills and approaches that can be learned through effective mentoring. Here are some of the benefits that you receive from being a mentor:

  • Form new relationships : 

It is not about how much you communicate but the effort that you put into communicating with your mentee that you learn to build on a relationship and forge new ideas and decisions.

  • Share the desired attitudes and company behaviors : 

In the time that you communicate to your mentee about how they should go about their business, they should also learn the tricks of the trade-in harnessing the right attitude and behavior to run a profitable business. You should be enthusiastic about their business propositions and believe in it. Let them understand how much you can help them in getting the right attitude and their willingness to meet their expectations with relative ease.

  • Build on your coaching and leadership skills :

As a mentor, the key to successfully train a mentee is by effectively coaching them. Reaching out to them will help you gain the right leadership required to build on opportunities that lie ahead of you. This could be done by sharing your insights and experience into how you would grow and your mentees would develop based on your success and how well you guide them

  • Mentorship encourages better performance : 

The skills that you develop from mentoring are bound to encourage you to grow, help your co-workers perform better, boost morale and with constant engagement, you can retain and develop key performers in your business.

This way you will learn how to deal with failure better, use your strengths to grow faster and provide the right feedback (in the way you provide to your mentees) to your co-workers and associates and help them perform better and learn from their mistakes. As a mentor, you will be recognized as a subject matter expert, learn about new approaches to work, extend your professional development record, review your goals and create a unique coaching style.

There is a certain personal satisfaction that you gain by sharing your skills and your experience and professionally being involved in transforming a mentee in growing their business and reaping positive results.  

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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